Redding, California - September 4, 2024

Li-ion Battery Recycling Market to be Worth $8.6 Billion by 2031

Li-ion Battery Recycling Market Size, Share, Forecast, & Trends Analysis by Model (Contractual Services, Direct-to-Market), Battery Type (LCO, LFP, LMO, NCA, NMC, LTO), Process (Pyrometallurgical, Hydrometallurgical) - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Li-ion Battery Recycling Market—Global Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication from Meticulous Research^®, the Li-ion battery recycling market is expected to reach $8.6 billion by 2031, at a CAGR of 22.3% from 2024 to 2031.

Rising demand for electric vehicles (EVs), increasing needs for managing used battery disposal, depleting natural resources, and stringent regulatory frameworks for battery recycling are some factors driving the growth of the Li-ion battery recycling market. However, inadequate recycling infrastructure restrains market growth.

Additionally, supportive government policies and advancements in recycling technologies are anticipated to create growth opportunities for market stakeholders. However, the high costs associated with Li-ion battery recycling remain a significant challenge. A prominent trend in the market is the growing investment in battery recycling infrastructure.

The Li-ion battery recycling market is segmented by business model, battery type, and recycling process. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

By business model, the contractual services segment is expected to dominate the market in 2024, with a share of 74.0%. This segment's growth is driven by government support and stringent regulations, a heightened need for managed disposal solutions, and an increasing need to manage and mitigate liabilities associated with hazardous materials processing, handling, and disposal.

By battery type, with a share of 44.0%, the lithium nickel manganese cobalt oxide (NMC) segment is anticipated to hold a dominating position in the Li-ion battery recycling market in 2024. This segment's significant market share is attributed to the rising adoption of NMC batteries in EVs and portable electronics and the growth of the global EV market. NMC batteries are distinguished by their superior thermal stability and safety compared to other battery types. Their high energy density and extended cycle life make them well-suited for applications demanding prolonged battery performance.

By recycling process, in 2024, the pyrometallurgical process segment is expected to account for the largest share of 45.0% of the market. This segment's prominence is driven by its high recycling efficiency, the growing demand for organic material removal from Li-ion batteries, the need for cost-effective and efficient recycling solutions, and the increasing emphasis on recovering valuable materials to minimize new mining activities. Furthermore, stringent environmental regulations are fostering sustainable recycling practices, further supporting the adoption of pyrometallurgical processes.

By geography, with a share of 45.7%, in 2024, Asia-Pacific is poised to hold a dominating position in the market, followed by North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific's significant market share can be attributed to the rapid expansion of the consumer electronics sector, growing concerns over the depletion of precious and rare earth metals and increasing implementation of new policies and regulations to enhance recycling and environmental protection.

Key Players:

The key players operating in the Li-ion Battery Recycling market are Duesenfeld GmbH (Germany), RecycLiCo Battery Materials Inc. (Canada), Li-Cycle Holdings Corp. (Canada), Cirba Solutions (U.S.), Redux Recycling GmbH (U.S.), Redwood Materials, Inc. (U.S.), Glencore plc (Switzerland), Fortum Corporation (Finland), Trishulavel Eshan Pvt Ltd (Li-Circle) (India), SNAM S.A.S (A subsidiary of Floridienne S.A) (France), Primobius GmbH (Germany), MTB GROUP (France), Tata Chemicals Limited (India), OnTo Technology (U.S.), American Battery Technology Company (U.S.), Attero Recycling Pvt. Lyd. (India), Umicore SA (Belgium), Lithion Recycling Inc. (Canada), Ascend Elements, Inc. (U.S.), ACE Green Recycling, Inc. (Singapore), ACCUREC Recycling GmbH (Germany), and BatX Energies Pvt. Ltd. (India).

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5481

Key questions answered in the report-

• Which are the high-growth market segments based on business model, battery type, recycling process, and geography?
• What was the historical market for the Li-ion battery recycling market?
• What are the market forecasts and estimates for the period 2024–2031?
• What are the major drivers, restraints, opportunities, challenges, and trends in the Li-ion battery recycling market?
• Who are the major players, and what shares do they hold in the Li-ion battery recycling market?
• What is the competitive landscape in the Li-ion battery recycling market?
• What are the recent developments in the Li-ion battery recycling market?
• What are the different strategies adopted by the major players in the Li-ion battery recycling market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the Li-ion battery recycling market, and how do they compete with the other players?

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